Paul B. Turner is a leading energy and commodities trading lawyer and a founding partner of Reed Smith’s Houston office. He has been named Lawyer of the Year: Futures and Derivatives Law for Houston by America’s Best Lawyers three times and has been twice included in the Houston Business Journal’s Who’s Who in Energy Guide.
He was also selected to the BTI Client Service All Star List in 2016. He focuses his practice on the fast-changing and evolving energy and commodity markets—principally related to the business of the physical and financial trading of energy commodities.
He has been involved in the regulatory and commercial structuring and restructuring of transactions in the energy industry, including the implications of ongoing regulatory changes to the physical, futures and derivatives markets.
Paul brings an industry knowledge and practical approach to advise a variety of client types in the industry – major oil companies, hedge funds, independent trading and marketing companies, retail energy providers, and banking clients – on structuring and documenting complex commodity transactions, including crude, products, power, natural gas, and NGLs, industry-standard contracts (e.g. EEI, ISDA, NAESB, LEAP), as well as bespoke agreements, including numerous commodity tolling agreements, storage and marketing arrangements, asset and energy management agreements, and offtake and optimization agreements.
He regularly has advised on M&A transactions and set up client regulatory and trading compliance programs, as well as assisting trading companies on regulatory investigations (including by the CFTC, Exchanges, and FERC). Recently, he has been primary outside counsel to several clients as they entered the US trading markets for energy commodities.
In addition, Paul advises energy clients on credit and restructuring issues related to forward and financial contracts. He has represented numerous clients in some of the largest energy and commodity company bankruptcies, including the bankruptcies of Lehman, The SemGroup, Enron, and Mirant.
In the bankruptcy of NEGT Energy Trading (formally PG&E Energy Trading), he served as principal special energy counsel. He has advised energy companies on a myriad of transactional issues and has worked on the sale of a number of retail electric providers throughout the United States.
- University of Virginia School of Law, 1996, J.D., Order of the Coif; James C. Slaughter Honor Award; Executive Editor, Virginia Law Review
- University of Chicago, 1990, A.B., with honors
Professional Admissions & Qualifications :
- District of Columbia
Court Admissions :
- U.S. Court of Appeals – Seventh Circuit
- U.S. District Court – Southern District of Texas
Professional Affiliations :
- Former Vice Chairman, Committee on Gas and Electric Marketing, American Bar Association
- Former Vice Chair, Committee on Power Generation and Marketing, Energy Bar Association
- Member, Board of Trustees, Houston Grand Opera
- Former member, Board of Directors, Lupus Foundation of America, Inc., Texas Gulf Coast Chapter
- Life Fellow, Texas Bar Foundation
Clerkships : Honorable Kenneth Ripple, U.S. Court of Appeals – Seventh Circuit
Rate : $$$